SoftBank Shares Climb Again With Arm’s Explosive AI Rally

Arm shares have almost doubled in value since earnings
SoftBank owns about 90% of the newly public chip designer

WATCH: (Feb. 8) Japanese conglomerate SoftBank Group Corp. swung to its first profit after four quarters of losses. Min Jeong Lee reports.Source: Bloomberg

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By Min-Jeong Lee

February 13, 2024 at 12:18 AM UTC

Updated on

February 13, 2024 at 1:46 AM UTC

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SoftBank Group Corp. shares surged for a third day on the explosive rally of its Arm Holdings Plc., the chip designer that has almost doubled in value since making the case last week for how it will benefit from the artificial intelligence boom.

SoftBank’s stock climbed as much as 11% on Tuesday, to the highest level since May of 2021. SoftBank held onto a stake of about 90% in Arm as it took the company public last year.